Changes in the capitalist system's operating procedures, rules and regulations are always presented as if they were in everyone's interest, a kind of "everybody wins" social progress. The changes usually turn out to be mostly or entirely in capitalists' interests since they run their system that way. Are we surprised and shocked?

Global capitalism has huge problems coping with the second worst collapse in its history. Its extreme and deepening inequalities have provoked millions to question and challenge capitalism. Yet socialists of all sorts now find it more difficult than ever to make effective criticisms and offer alternatives that inspire.

Recent press reports refer to troubling price increases for such assets as real estate, government bonds, companies targeted for acquisition and artwork. A New York Times front-page headline read “The Everything Boom, or Maybe the Everything Bubble.”

General Motors recently released the report it commissioned from the huge Jenner & Block law firm. The latter's chairman, Anton Valukas, investigated how and why GM failed - for over 10 years - to recall cars it produced while knowing they had defective ignition switches. The eventual recall of 2.6 million Chevrolet...